The ‘financial swamp’ of banking regulators who ‘decide’ which Americans get their bank accounts shut down

The ‘financial swamp’ of banking regulators who ‘decide’ which Americans get their bank accounts shut down

Senate Banking Committee Chairman Tim Scott, R-S.C., outlined why banking regulators are the root of the issue when it comes to shutting down American bank accounts, also known as de-banking, because regulators "just don't like them."Banking regulators operate under an "alphabet soup" of federal agencies, and sources on Wall Street told Fox News Digital that when a regulator speaks, whether couched as a rule, guidance, or even a simple conversat…

The ‘financial swamp’ of banking regulators who ‘decide’ which Americans get their bank accounts shut down | The New York Ledger

Senate Banking Committee Chairman Tim Scott, R-S.C., described why banking regulators are the root of the problem when it pertains to closing down American savings account, likewise referred to as de-banking, since regulators “simply do not like them.” Banking regulators run under an “alphabet soup” of federal firms, and sources on Wall Street informed Fox News Digital that when a regulator speaks, whether couched as a guideline, assistance, and…

Financial News Network - The ‘financial swamp’ of banking regulators who ‘decide’ which Americans get their bank accounts shut down

Sen. Tim Scott, R-S.C., Senate Banking chairman, sat down with Fox News Digital to discuss how much power federal regulators hold over banks.Read More …